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TV Guide Sold For A Dollar


First Posted: 10-16-08 10:08 AM   |   Updated: 11-16-08 05:12 AM

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AdAge:

NEW YORK (AdAge.com) -- How much is TV Guide magazine worth in a morphing media business and molten credit markets? Try $1.

That's how much the private equity fund OpenGate Capital has agreed to pay Macrovision for the unprofitable magazine and all its liabilities. The cover price, by way of comparison, is $2.99.

To sweeten the deal even further, Macrovision is loaning OpenGate up to $9.5 million to help get going -- at a very friendly 3% interest.

"I'd borrow from Macrovision any time," one investment banker said of the terms.

Read the whole story: AdAge

Filed by Danny Shea  |  Report Corrections